GOVT.RESUMES RELEASE ORDER ON SUGAR EXPORT

Faced with the prospect of a sharp fall in sugar production in 2008-09, the Government on Monday regulated overseas shipments by reimposing the Release Order Mechanism for exports from January 1, 2009. Through the mechanism, the Government will fix the amount of sugar that each mill can export - just like it does for domestic sale each month - helping it track overseas shipments and inventories. (Financial Express - 30.12.2008)

DUTY FREE IMPORT OF RAW SUGAR LIKELY

The Government may allow mills to import raw sugar duty free in two weeks to ease a local shortage and prevent an increase in domestic prices before elections next year. The Government plans to allow refiners tobuy sugar from overseas for processing and sale in the local market without paying a 60 per cent duty. The mills will need to export the same quantity within two years. The 60 per cent duty in India has applied since February 08 on sugar imported for domestic refining and sales. (BUSINESS LINE 01.01.2009)